What to know:
- HYPE shows bullish structure after rebounding from key support, signaling potential uptrend continuation.
- Analysts project upside target near $83 if bullish momentum strengthens and resistance breaks.
- ETF inflows of $164M in June show rising institutional demand and investor confidence.
Hyperliquid (HYPE) has rebounded strongly from key support, keeping its bullish structure intact as traders watch for a breakout for the HYPE price above descending trendline resistance. Strong ETF inflows and rising investor demand are improving market sentiment and could support further upside if momentum continues building.
At the time of writing, HYPE is trading at $64.84 with a 24-hour trading volume of $537.52 million and a market capitalization of $16.38 billion. Despite the 2.58% loss over the last 24 hours, the HYPE price structure and strong ETF inflow point to a bullish reversal ahead.
Source: CoinMarketCap
Also Read: Hyperliquid HYPE Draws Institutional Confidence With $319 Price Target
HYPE Price Eyes $83 After Key Support Rebound
According to the crypto analyst VictoryNguyenX, the HYPE price has regained traders’ attention after successfully bouncing from a crucial higher-timeframe trend support zone, reinforcing confidence that the broader bullish structure remains intact.
The strong rebound suggests buyers are defending key levels, while analysts are now watching for bullish momentum for the HYPE price to align across multiple timeframes to confirm that the recent recovery has enough strength to continue.
Source: VictoryNguyen10X’s X Post
The spark for the coming rally lies in recapturing the downtrend line of the local scale that has been constraining the HYPE price movement.
Any breakout above the current level of resistance may trigger a new rally, with technicians looking for $83 as the next target of the all-time high price if the bullish momentum remains strong.
HYPE ETFs Record Strong June Inflows
The data from MSB Intel further highlighted that HYPE spot ETFs attracted $164 million worth of inflows in June, indicating increased demand among investors for exposure to cryptocurrencies via a regulated pathway.
The new monthly inflows have helped enhance the asset base of the funds, reflecting increasing confidence on the part of both institutional and retail investors despite volatility in the crypto market overall.
Source: MSB Intel’s X Post
With the solid performance by June, HYPE spot ETFs have generated total net assets of $334.7 million, marking a significant achievement for this form of investment instrument.
Experts say that the continuing flow of money into ETFs usually implies positive sentiment in the markets, while constant accumulation of funds may boost HYPE’s growth potential.
Despite the positive chart structure and strong ETF growth, the HYPE price is still moving in a downward trend, following the general trend in the crypto market. Additionally, the Bitcoin price movement in the sideways direction has largely impacted the market, including altcoins.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
Also Read: Grayscale Hyperliquid Staking ETF Surpasses $123M AUM as Institutional Interest Grows
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